EUR/GBP Fundamental Analysis – November 23, 2015 – Forecast

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Published: Nov 20, 2015, 14:22 UTC

Analysis and Recommendations: The EUR/GBP fell 11 points as the euro tanked today on weak German producers’ price and comments from both the ECB and the

EUR/GBP Fundamental Analysis – November 23, 2015 – Forecast

Analysis and Recommendations:

The EUR/GBP fell 11 points as the euro tanked today on weak German producers’ price and comments from both the ECB and the German Central Banker. The pair is trading at 0.7009. Britain’s currency was set for its second weekly gain versus the euro after European Central Bank President Mario Draghi said on Friday officials will do what’s necessary to “raise inflation as quickly as possible.” In contrast to the ECB, Bank of England policy makers are debating when to lift interest rates off their record lows, even though markets remain skeptical they will do so in 2016.

“The BOE is going to hike rates while the ECB is still trying to talk down its currency,” said Stuart Bennett, London-based head of Group-of-10 currency strategy at Banco Santander SA. He said even if the BOE don’t raise rates in February next year, as he predicts, they will go “sooner than the market expects and that isn’t in the price.”

FxEmpire provides in-depth analysis for each currency and commodity we review. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more up to the data analysis and information in our weekly reports.

Today’s economic releases:

Cur.	Event	Actual	Forecast	Previous
JPY	BoJ Monthly Report
EUR	German PPI (MoM) (Oct)	-0.4%	-0.2%	-0.4%
EUR	ECB President Draghi Speaks
EUR	German Buba President Weidmann
USD	FOMC Member Bullard Speaks
USD	FOMC Member Dudley Speaks

Upcoming Economic Events that you should be monitoring:

Monday, November 23, 2015

Cur.	Event	Actual	Forecast	Previous
	Japan – Labour Thanksgiving Day
EUR	German Manufacturing PMI (Nov)		52.1	52.1
EUR	German Services PMI (Nov)		54.3	54.5
EUR	Manufacturing PMI (Nov)		52.3	52.3
EUR	Markit Composite PMI (Nov)			53.9
EUR	Services PMI (Nov)		54.0	54.1
EUR	Eurogroup Meetings
USD	Manufacturing PMI (Nov)			54.1
USD	Existing Home Sales (Oct)		5.44M	5.55M
USD	Existing Home Sales (MoM) (Oct)			4.7%